S-2658.2          _______________________________________________

                                 SENATE BILL 5970

                  _______________________________________________

State of Washington              52nd Legislature             1991 Regular Session

By Senators Gaspard, Snyder and Niemi.

Read first time April 16, 1991.  Referred to Committee on Ways & Means.Changing provisions relating to the budget stabilization account.

     AN ACT Relating to the budget stabilization account; amending RCW 43.88.535; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

     Sec. 1.  RCW 43.88.535 and 1982 1st ex.s. c 36 s 3 are each amended to read as follows:

     (1) Money in the budget stabilization account may be appropriated by a favorable vote of ((sixty percent)) a majority of the members elected to each house of the legislature for the following purposes:

     (a) To provide for the continuation of agency programs at or near levels of existing appropriations when state revenues decline below projections;

     (b) To provide the governor with reserve expenditure authority for the purpose specified in subsection (1)(a) of this section;

     (c) For labor force training; and

     (d) For any other purpose which the legislature finds would reduce unemployment or economic hardship caused by the state's economic cycle.

     (2) The legislature by appropriation may provide for, or the governor may authorize, the waiver of deposits in any fiscal quarter to the stabilization account in the event of an expenditure from the account during such quarter.

NEW SECTION. Sec. 2.      This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately.